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Rupee languishes at two-month lows as supply worries raise oil prices

The Indian rupee hit a two-month low on Wednesday amid rising oil prices spurred by worries over Middle Eastern supply disruptions. In an effort to contain the rupee's decline, state-run banks stepped in to sell off dollars. Increased energy prices are forecasted to exacerbate inflationary pressures and expand India's deficit. Concurrently, Indian equities took a hit, and bond yields showed an upward trend.

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Economic TimesLean R·3h ago
Rupee languishes at two-month lows as supply worries raise oil prices
The Indian rupee hit a two-month low on Wednesday amid rising oil prices spurred by worries over Middle Eastern supply disruptions. In an effort to contain the rupee's decline, state-run banks stepped in to sell off dollars. Increased energy prices are forecasted to exacerbate inflationary pressures and expand India's deficit. Concurrently, Indian equities took a hit, and bond yields showed an upward trend.
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Rupee languishes at two-month lows as supply worries raise oil prices

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